IDFC raises $519 million from India's largest QIP

The infrastructure finance company attracts about 30 new and existing investors amid expectations of a pickup in infrastructure spending.

Qualified institutional placements QIP have become something of a favoured option for Indian follow-on offerings since they were first introduced just over 12 months ago and now they are starting to increase in size as well.

Last week, Infrastructure Development Finance Co IDFC completed the largest QIP so far, raising Rs21 billion $519 million that will be used for further aggressive expansion of its businesses. This was more than twice the Rs10 billion $240 million that insurance and healthcare provider...